Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2010 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (7) TMI 268 - HC - Companies LawWhether IFCI Limited (respondent No. 1) is a "financial institution" within the meaning of section 2(1)(m) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the ‘said Act’)? Held that:- IFCI Limited would have to be regarded as a public financial institution under section 4A of the Companies Act. As a consequence, it would be a financial institution under section 2(1)(m) and, therefore, IFCI Limited would be entitled to take recourse to the provisions of the said Act in order to enforce a "security interest" created in its favour. Appeal dismissed.
|